dailyhodl.com
Popular trader Tone Vays thinks Bitcoin (BTC) has already hit its low and is primed to surge towards higher prices.
The biggest crypto asset by market cap plunged from trading at nearly $66,000 on Monday to below $59,000 at one point on Tuesday. BTC has since regained a little bit of that ground. Despite the dip, Vays tells his 115,000 YouTube subscribers that he isn’t panicking.
“I am leaning towards the fact that the low was in and we are going to breach $70,000 over the next few weeks.”
The analyst thinks BTC is just enduring “a little bit of consolidation” and is “still on pace” to $100,000 in the first quarter of 2022.
Vays’ price predictions have slightly wavered in recent weeks, however. In September, he predicted Bitcoin would hit $100,000 by the end of this year. He doubled down on that call earlier this month while also anticipating consolidation for BTC until potentially after Thanksgiving.
At time of writing, Bitcoin is down more than 12.5% from its all-time high of $69,044.77, which it hit earlier this month.